Lao Ngai Leong: Functions of Hengqing FTZ should be improved

Lao Ngai Leong, an NPC deputy  and vice chairman of the All-China Federation of Returned Overseas Chinese, told China.org.cn that China should improve its hardware and optimize the environment of Hengqing Free Trade Zone.

Premier Li Keqiang proposed, in his 2017 government work report, the building of 11 high-standard-pilot free trade zones and to spread the good practices developed in these zones.

According to Lao Ngai Leong, the drawback of the Hengqing FTZ is the lack of open port areas and special customs supervision areas. Therefore, the related reform policies cannot be carried out in Hengqing.

Lao Ngai Leong suggests that the central government should allocate 0.29 square kilometers of land from Zhuhai to Hengqing FTZ, including a duty free zone, a port and an industrial park. Then, the functions of Hengqing FTZ can be improved.

Duty-free policies are applied to the raw materials and the goods produced in Hengqing. However, the key industries of Hengqing are financial services, tourism, business services, traditional Chinese medicine, education and research, hi-tech industry and cultural and creative industry. These key industries are not included in the duty-free policy.

"I suggest that the seven key industries of Hengqing should be included in the duty-free policy. Then more enterprises in Hengqing can benefit from the policy,” said Lao Ngai Leong.